BetMakers supplies tools for bookmakers to grow their commercial returns through enhanced product offerings to their customers and provides integrity platforms to racing bodies through commercial models to support the horse racing industries across the globe.
BetMakers is in the process of completing an acquisition of Sportech's Racing and Digital businesses to expand its global footprint and scale its current assets and capabilities. After completion, the combined group will be one of the leading technology providers for racing services in more than 30 countries globally.
These services include tote services, fixed odds solutions, retail terminals, digital platforms, race day controls, data and trading solutions and integrity and compliance tools.
BetMakers is well positioned to continue to deliver strong growth in its domestic market as well as key international markets including the US.
- H1 FY21 revenue growth of 67% half-on-half driven by Managed Trading Services and Content Distribution, with a strong pipeline of new platform clients.
- Q3 FY21 update - The Company is expected to generate revenues of approximately $5 million, which will deliver a 25% increase quarter-on-quarter.
- Sportech continues to perform in line with expectations and offers immediate growth opportunities through global strategic partnerships and cross-selling of BetMakers' product offering.
- Sportech acquisition expected to complete Q4 FY2021.
- Projected cash balance in excess of $100m post-completion of the Sportech acquisition and strategic investment by Matthew Tripp.
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About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (FRA:T07) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.
Betmakers Technology Group Ltd